Multiple Choice
When a holder presents an instrument in a timely and proper manner but acceptance or payment is refused,the instrument has been ________.
A) annulled
B) dishonored
C) converted
D) rescinded
E) executed
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q29: A holder in due course must take
Q30: The "for-value" requirement for becoming a holder
Q31: Run Around.Millie issues a note to Bob.Bob
Q32: The Uniform Commercial Code's definition of good
Q33: A payee can be considered a holder
Q35: A party who is conditionally liable on
Q36: Which of the following is true regarding
Q37: A holder in due course is free
Q38: A holder can take an instrument for
Q39: A time instrument becomes overdue ninety days